The Opposite Problem Here, Plenty Of Money.
Hello,
From posting on this site I've noticed that many people are trying to find money, and all creative ways to get it. I ask a question, (this is not to boast or spite, simply part of the golden ovary club)
How comfortable would any of you investors be if you could borrow hard cash up to $200k at a moments notice?
The reason I ask, my family wants to see us go about fullfilling the dream of breaking out of the "Rat Race." They could lend money at the drop of a hat. I feel a little deprived of knowledge, although I have the basics.
They would expect that I repay with 5-6%. Thanks for the comments in advance.
Hunter
SIGN ME UP!!!
That's what everyone here is looking for. Quick, unsecured, low interest rate money.
I would warn you, however, that things can get increasingly complicated when you work with family. My advice would be twice as careful with the contracts and details when working with family. Most people end up being half as careful (if that) and they end up loosing money and good relationships. Don't borrow it until you KNOW how to use it. Seriously, you're just asking for problems if you're not careful.
That said, I have a knack for finding bargain properties that cash flow well. I would be willing to give them the same percentage of the profits as they finance ($1,000,000 project, they bring in 20% of the money I'll give them 20% of the net profits). This would also give them the appreciation from ownership, tax advantages, and the option to defer their taxes indefinitly through 1031 exchanges.
Drop me a line if this is something that would benefit everyone.
Hello. I'm always looking for capital that is a little easier to access for my rehab projects. I do my work in NM and could send you a packet on past rehab projects I've done. 5-6% is almost too fair. Please contact me for a prospectus on properties that I'm looking to redo and the AS-IS and rehab appraisal. **Please See My Profile**
[addsig]
Thanks for the responses. I'll be on the road for a couple of days, e-mail limited. I'll write when I have more time.
Thanks
Hunter
Hunter,
This is exactly what I am looking for.
Craig
Really - sign me up too! I am a loss mitigation/foreclosure consultant and have many opprortunities to acquire equities at 40 to 70 percent of fair market value when I can't mitigate a case. I'm not being predatory - they simply can't afford to stay in their homes -
[addsig]
Johnny,
Take it FAST...
....and KISS their feet!
....as always,
GoodInvesting, Rocky
I have several investements that I am positive will produce a good return. I am only lacking some capital, However I do have some of my own. I am just comming up a little short.
I Can provid all information and doc.
Please Contact me by E Mail.
Thanks Chuck
Not so simple..
Borrowing money from relatives can be sticky.
Better hold up your end of the agreement. It is a nice offer, I would only use it as a percentage of your total funds available, then as you expand, use the same percentage, but you are using more. I would start with somthing like 35-50% their funds as a percent of your total funds.
What my main point is, use caution and proceed wisely, knowing that if things dont pan, you cannot file bankrupcy on your relatives..
Wallstreet,
Nicely put! Very good advice.
Hello Jonny of utah,
Good advice from the good folks within the post. However if you are serious about the 200k loan contact me at your earliest convience, I Do and have a solid business plan that will briing you your 5 to 6 %.
Thank you and hope to talk to you soon.
See profile to email me.
Coolage of North Carolina
[addsig]
Sign me up too I'll have lots of business for you very soon
Johnny:
I represent a number of hard money lenders who offer investor participations in their loan pools with consistent annual returns of 12-17%. If your family would like a higher, simpler, more diversified return I can help.
Sign me up,,I am need of quick cash loans with the homes for security...I am in Michiagn and could put your money to work asap
Hi All:
I am a construction professional who has been in the RE Development/Construction industry for just under 25 years. I have become EXTREMELY well versed in all phases of my chosen field, from pre-development due diligence through construction closeout. I have been lucky enough to gain a ton of experience in many building types and uses from single and multi-family to light industrial to commercial/retail.
After working for and making piles of money for other people, the time has come for me to fly solo. I have chosen Charlotte NC as the area to concentrate on, and I plan to move my family there from Jacksonville Fl within the next couple of weeks.
There are two primary markets I want to concentrate on. The greater Charlotte area has a very strong need for Condo-type office-warehouse product. I have developed 1000's of sq. ft. of this product over the years and I'm confident of the market. The other market is entry-level attached housing (townhouse type development).
I have begun the land identification process and I'm certain that I have pinpointed several tracts that fit my needs. My problem is money, or the lack thereof. I have no experience in raising capitol. I'm not sure how this part of the puzzle works. I do know that this is entirely possible, but I need assistance.
I am extremely serious about this and I am looking for some help. If there is anyone out there who can help me, I will certainly make it worth your while. Please contact me as now is the perfect time to get started.
FYI, I'm willing to pay 10% anuual on a 2 year deal with the first year up front. Minimum 100K
Thanks for looking
JMD
Johnny_Utah,
see my profile. If I were you I would always secure the money by atleast putting a lien on any property your invested in. Secure the funds and there will be peace and harmony within the family.
Quote:
On 2003-07-09 20:26, Johnny_Utah wrote:
Hello,
From posting on this site I've noticed that many people are trying to find money, and all creative ways to get it. I ask a question, (this is not to boast or spite, simply part of the golden ovary club)
How comfortable would any of you investors be if you could borrow hard cash up to $200k at a moments notice?
The reason I ask, my family wants to see us go about fullfilling the dream of breaking out of the "Rat Race." They could lend money at the drop of a hat. I feel a little deprived of knowledge, although I have the basics.
They would expect that I repay with 5-6%. Thanks for the comments in advance.
Hunter
[addsig]
I only use family money when I can provide 100% security with a first and only lien position for the family member. I only take on term investors who are secured 100%.
I have a similar deal using a 7 figure line of credit with a family member, be careful!
Johny, I would be interested in talking with you about my program in Florida. I can pay a significantly higher interest rate and ensure your family's investment is very secure. Please e-mail me at **Please See My Profile** I am looking forward to talking with you.
Bob
Has anyone heard from Johnny_Utah (Hunter)?
Happy Trails![ Edited by 4-S-INVESTORS on Date 08/29/2003 ]
I don't borrow money from family. Bad idea. By the way, has anyone heard from Johnny_Utah?
Sign me up I a have a few deals I could use some funds on.
I have found good deals and could use financing. Email me.[ Edited by mark19401 on Date 10/26/2003 ]
Hunter,
It sounds like you have quite a few prospects to look at out there. I'd be interested as well. I have a few large tracts of land just waiting to be developed in a growing area that is in need of some high end homes. Drop me a line if you're interested. Thanks
i have 2 homes (Pittsburgh/Philly - 50K), 1 condo (Tampa - 75K), 1 store (Philly - 75K) and about 10 other leads (PA - various prices) that i can close on. i could get all of the homes, the condo and the store sealed with $200K! only 1 home needs work on it, and it's just cosmetics. the store would be the only one that could take a month or so of advertising to get l/o'd or sold outright.
please contact me when you're ready and i'll share details with you.
thanks!
"How comfortable would any of you investors be if you could borrow hard cash up to $200k at a moments notice? "
I think you have your answer from all the above posts.
I would caution you that you can do much better than 5-6% with out loaning on unsecured basis. Buy RE investments with cash on cash returns of 10% plus or look for internal rate of returns above 15%.
They can be found through any reputable commercial broker.
Gregg
[addsig]
"What a bunch of dumb, greedy, unresourceful idiots" is the thought that comes to mind when reading this thread!!!!
EVERY single one of you that posted or even thought, oh wow, this guy has cash, he can fund me.. Such thoughts sicken me.. You are NOT a real estate investor if this is how you act, nor can you possess the necessary KNOWLEDGE (not neccessarily experience) to make a deal work..
If YOU are an REI, you should have NO problem making a deal work, nor getting funding without begging like little kids on an internet bulletin board, who bought a 9.99 book at the store..
If your a recovering financial looser, i.e. have bad credit, you can easily focus on deals such as vacant propertys and PFL sub-2's which don't need conventional nor new financing.. Attitude, persistence, and knowledge is all that is needed.. Though those characteristics are quite a commodity these days..
That's my 4 cents,
Chris
Hunter - you might want to consider buying properties at foreclosure sales and buying second loans (mortgages or trust deeds depending on where you live). You can do either to hold, but you can also do either to resell with some marketing. In each case, they frequently sell for less than they would if they were marketed. Not everyone can pay cash for a house, for example, or the courage to stand on the court house steps and make that knid of purchase.
In each case, do a serious job of studying before you leap.
Dear Johnny Utah Freshman
I am terribly sorry but I just cannot use your money. I tried everyway I could think of but well it just won't work.
You see I disaprove of TCI types fooling around with interest yields. I think that with their education and backgrounds and desires to be upward mobile, they should be involved with things that will make real money. I mean double and triple your investment yes and even more.
You must remember this is a pool of talent waiting to lunge out into the business world and take over.
Yes I have read Pearls of Great Price and the dream of the Smiths has been examined at great length.
Accordingly I must pass, but I wish you well. My regards to Moroni, tell him he is still flat.
Knowingly Lucius
Quote:
On 2003-07-11 14:41, wbcastoff wrote:
Johnny:
I represent a number of hard money lenders who offer investor participations in their loan pools with consistent annual returns of 12-17%. If your family would like a higher, simpler, more diversified return I can help.
wbcastoff,
I am in San Diego and would like some more information about this 12-17% that you are talking about . Is there a prospectus or something that you can send me to spell-out everything? E-mail me directly at **Please See My Profile**
Thanks,
Alan
Where oh where is Johnny Utah?? He rode into town, got all liquored up, bluffed his way into a poker game, stole our women and rode off into the sunset. He's probably staking out his claim at the family's silver mine...or are they mining platinum these days?
Dang...sure had big plans for that guy??
Hello, to all sorry about the hiatus I was preocuppied with building a basement. The story with my money has changed a little bit. I no longer have the sum of I thougth that I did. My apprenticeship in the realestate world is like a roller coaster. Though I would like to retire in a couple of years like the people on this site, I don't foresee it as a viable option yet. Thanks for all the posts. I will continue to take time to post every now and again. hunter